Curql Collective Investment to Help CU Members Become Approved Borrowers

Nick Evens

​For would-be borrowers, a declined application for credit is a boulder on the path toward their financial goals. Curql Collective, a Credit Union Service Organization, is spurring innovation to help clear that path through a new Curql Fund I investment in fintech start up Credit Mountain. 

Credit Mountain is taking credit counseling to the next level by providing personalized credit counseling powered by artificial intelligence, then backing up that guidance with a suite of tools that help aspiring borrowers to improve their credit scores. For credit unions, this technology offers enticing opportunities to cultivate additional borrowers and grow their membership bases.

“In many application scenarios, borrowers who don’t qualify for high-quality loans are simply declined with no action plan,” said Nathan Pinto, CEO-Founder of Credit Mountain. “Our solution helps credit unions identify those potential borrowers who come close to qualifying and then gives credit unions a way to aid those applicants as they climb that mountain to creditworthiness.”

According to Curql Collective President and CEO Nick Evens, the solution is one that illustrates how technology can provide transformative benefits for people – and credit unions. “This is really an investment in people,” he said. “We’re excited to make this investment in Credit Mountain, knowing that it will help create brighter futures both for members and credit unions. This technology also shows how technology can actually forge stronger relationships between members and credit unions. Credit unions will be able to actively engage with these borrowers and become the lender of choice when their time comes.”

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